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Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
 Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.has announced that it has, through its wholly-owned subsidiary, PT Bestindo Energy, (“Bestindo”) entered into three separate Memorandums of Understanding ("MOU’s") which give Bestindo the exclusive right, for a period of thirty days, to purchase the shares of three separate private Indonesian companies which hold various coal rights related to four separate coal projects, according to news that posted in its web site.
Each of the coal projects is 100% owned by the respective private company and all of the projects are located in the Regency of Kutai, East Kalimantan. Each of the MOU’s provide for the subsequent execution of a Conditional Share Purchase Agreement (“CSPA”), which provides for staged payments of the purchase price over a period of four months in respect of one MOU and over a period of 24 months for the other two MOU’s.
Arni Bersaudara Coal Project
Pt Arni Bersaudara (“Arni”) is the holder of two contiguous IUP Exploration permits covering 3,039 and 2,874 hectares in the District of Muara Kaman. The IUP’s are approximately 40km north of the Mahakam River The Arni MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Arni for payments totaling $2,414,181 CAD. Terms of the payment include $84,215 CAD upon signing, $308,790 CAD within 6 months of signing the CSPA and the balance of $2,021,176 CAD after all the essential permits to bring the project into production are in place, or a maximum of 24 months from initial CSPA signing.
The target calorific value of coal is in this concession is around GCV 6,300 – 7,000 and 5,600 – 6,000 respectively.
Apriadi Bersaudara Coal Projects
Pt Apriadi Bersaudara (“Apriadi”) is holder of a KP PU (Mining Authorization for General Survey) covering an area of 930 hectares, which is currently being converted to IUP Exploration in the District of Samboja (AP1) and a SKIP (Exploration Permit Application) covering an area of 3,086 hectares in the District of Muara Kaman (AP2). The AP1 project is 10km from the coast and close to an independent haul road and port loading facilities which are under construction. The AP2 project is approximately 45km north of the Mahakam River and in close proximity to the Arni Bersaudara projects. The Apriadi MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Apriadi for payments totalling $2,077,318 CAD. Terms of the payment include $56,143 CAD upon signing of the CSPA , $112,287 CAD upon receiving IUP exploration permits for both projects, $224,575 CAD within 12 months of CSPA and the balance of $1,684,313 CAD due on the 24 month anniversary of the CSPA signing.
The target calorific value of coal ranging from 5000 GAD to 7000.
Putri Etam Coal Project
CV Putri Etam (“Putri”) is a private Indonesian company which is in the process of applying for an IUP Exploration and has successfully secured a Local Announcement letter from authorities. The application covers 100 hectares and is located in the Muara Badak district. The Putri MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Putri for payments totaling $84,215 CAD. Terms of the payment include $28,071 CAD upon signing and $56,144 CAD upon completion of the deed of shares transfer.
An additional agreement also provides that a royalty of US$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Friday, 26 November 10
INDIA WILL IMPORT 100 MLN TONS OF COAL BY 2012 - LAKSHMINARAYANA
COALspot.com – “India’s coal shortfall will reach 100 million mt by 2011-12”, said Lakshminarayana, Vice Preside ...
Friday, 26 November 10
CHINAS COAL INVENTORY STAYS HIGH FOR 22 MONTHS AT 220 MLN T, ASSOCIATION
Xinhua News Agency reported that, China’s coal inventory has stayed high and unchanged for 22 months to be around 220 million tonnes, reflecti ...
Friday, 26 November 10
DR WOLFGANG CIESLIK TO HEAD GERMAN COAL IMPORTERS ASSOCIATION
COALspot.com – (Press Release): The Management Board of the German Coal Importers Association (Verein der Kohlenimporteure e.V.) has elected D ...
Thursday, 25 November 10
ANALYSIS: COAL SECTOR: VALUE EMERGENCE - THE JAKARTA POST
Coal demand will remain firm due to a build-up of coal-fired power plants in India, China and Indonesia. As a result, we have upgraded our coal pric ...
Thursday, 25 November 10
INDONESIAN ROUNDS ARE ACHIEVING IN THE LOW 10S, OWNERS ARE NOT KEEN FOR TRIPS TO INDIA - FEARNBULK
HANDY
Uneventful week - Supra/Panamax stems ex USG to China/Korea/Japan are the main focus + grains ex. Argentina. The Atlantic market activity re ...
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- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Parliament of New Zealand
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- The University of Queensland
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- MS Steel International - UAE
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Economic Council, Georgia
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